APEC 2017: Vietnam has successful economic development model

Vietnam has been appraised for its successful development model, said PhD Arisman, director of the Centre for Southeast Asian Studies. (Photo: VNA)

Hanoi (VNA) – Vietnam has been appraised for its successful
development model thanks to impressive economic growth and radical reform to
attract investment, particularly after the country joined APEC forum in 1998,
said PhD Arisman, director of the Centre for Southeast Asian Studies (CSEAS).

In an interview with Jakarta-based Vietnam News Agency correspondent, he
praised Vietnam’s meticulous preparation for APEC 2017 events with the most
important APEC 2017 Economic Leaders’ Week in Da Nang city.

He said that this is an opportunity for Vietnam to popularise national images
as well as promote socio-economic development.

Meanwhile, Kim Sang Yeol, Vietnamese honourable Consul General in
Gwangju-Chonnam region, the Republic of Korea, made positive comments on
Vietnam’s socio-economic development after more than 30 years of Doi Moi
(reform) as well as expressed his belief in the Southeast Asian country’s
economic potentials.

Kim, who is also General Director of Hoban Construction Co., Ltd and President
of the Korean Broadcasting System (KBS), highlighted that Vietnam is a
promising market which offers favourable conditions for foreign investors
including those from the RoK to enlarge their business.

Shang Feng, a lecturer from China’s University of International Business and
Economics, noted opportunities of Vietnam, the host of the APEC 2017 events,
include rapid economic development, abundance of workforce, competitive labour
costs and sound business climate.

However, its formidable challenges are poor infrastructure system, shortage of
skillful workers and incomplete economic institution reforms, he said. -VNA